Orkla Food Ingredients, through its wholly-owned subsidiary Sonneveld Group, has acquired Dutch company Vamo produkten voor de Bakkerij.
Vamo manufactures specialised concentrates and ingredient mixes to producers of artisan and industrial bakery products.
Established in 1963, Vamo’s headquarters and production facilities are located in Duiven, the Netherlands. Last year, the firm recorded turnover of €12.4 million and EBIT of €1.6 million.
“Vamo is a well-run company with a good customer base and a product portfolio that is a good fit with Sonneveld,” said Peter Verhagen, CEO of Sonneveld.
“The acquisition of Vamo will complement Sonneveld’s position as a supplier of ingredients and accessories to the bakery market.”
The deal sees Orkla continue its spree of acquisitions and follows its purchase last month of a minority stake in Icelandic chocolate company Nói Siríus.
In April, the company’s Orkla Food Ingredients unit secured a deal to buy Zeelandia Sweden, a supplier of margarine, vegetable oils and bakery ingredients.
Norway-headquartered Orkla recently appointed Jaan Ivar Semlitsch as its new CEO, who will take up his position by 1 December at the latest.
Semlitsch is replacing Peter Ruzicka, who stepped down in May following five years in the role.
Local industry stakeholders under Food Drink Ireland (FDI) have called for targeted support measures in the sector that will help businesses stay buoyant during the transitional period.
Diageo has announced that the company’s CFO Kathryn Mikells will leave the business later this year and will be replaced by Lavanya Chandrashekar.
Schlosberg – who has resigned his positions as president, CFO, COO and secretary of Monster Beverage – will serve as co-CEO alongside Rodney C. Sacks.